AUSTIN - Austin remains a magnet for new and expanding tech firms and for young professionals, according to Marcus and Millichap's most recent quarterly report.

In 2013, individuals between 20 and 34 years old accounted for more than a quarter of the metro’s new residents, versus a 10 percent share nationally. This year should be no different, as hiring by notable tech companies attracts renter-age professionals to the area.

During first quarter 2014, single-family permit activity was up 15 percent compared with 1Q 2013. Multifamily permits, on the other hand, dropped roughly 65 percent over the same time period, which may be a sign that the building boom is starting to lose steam.